Tata Motors raises Iveco takeover bid to 14.40 euro per share

Tata Motors Ltd has raised its takeover offer price for Italian truck maker Iveco Group NV by 0.30 euro to 14.40 euro per share.

Deal Details

The revised all-cash voluntary tender offer values the transaction at 3.91 billion euro if all 271.2 million common shares are tendered, up from the previous valuation of 3.82 billion euro. Tata Motors announced plans to acquire Iveco, excluding its defence business, for 3.8 billion euro in 2025 through TML CV Holdings Pte Ltd. The company will fund the additional payout through an 85 million euro credit facility agreement with MUFG Bank Ltd, GIFT Branch. The revised price represents a 33.47 per cent premium over Iveco's share price on July 17, 2025, and a 6.77 per cent premium over the price on July 29, 2025. Tata Motors stated that this revised offer will not be increased further.

Timeline And Board Stance

Tata Motors increased the price because prior authorisations are taking longer than initially expected, causing a slight delay in the completion of the offer. The acceptance period runs from September 7 to October 26, 2026. Iveco Group shareholders are scheduled to vote on related resolutions at an extraordinary general meeting on October 16. Iveco Group's board of directors has unanimously supported the deal and recommended that shareholders tender their shares and vote in favour.

Context

Cross-border corporate takeovers often require extensive regulatory approvals from various authorities, which can sometimes extend initial timelines. Companies adjust their financial terms during lengthy processes to maintain shareholder interest and secure necessary support for major structural acquisitions.